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(Huffington Post)   Wal-Mart, Target are skirting a law that would required retailers to disclose products originating from "conflict countries"   (huffingtonpost.com) divider line 13
    More: Obvious, Wal-Mart, Securities and Exchange Commission, foreign direct investment, Foreign Corrupt Practices Act, labour movement, tax laws, foreign official, National Retail Federation  
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1149 clicks; posted to Business » on 24 Aug 2012 at 2:17 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-08-24 02:18:44 AM  
I'm conflicted.
 
2012-08-24 02:23:51 AM  
What conflicts? There are no conflicts. Everything is at peace.
www.welovetheiraqiinformationminister.com
 
2012-08-24 02:28:01 AM  
Hasn't "importing" dodgy or tax avoidance goods through a 3rd party been in practice since forever?
 
2012-08-24 04:48:24 AM  
what, the headline grammar nazis arent out in force on this one?

Is there some sort of law preventing grammar conflict interactions?
 
2012-08-24 05:24:01 AM  
Eh, to be fair, it's a lot easier for this sort of thing to be checked earlier in the supply chain. Asking a store with thousands of suppliers to check everything yet again seems pretty pointless.
 
2012-08-24 05:56:34 AM  

dbirchall: Eh, to be fair, it's a lot easier for this sort of thing to be checked earlier in the supply chain. Asking a store with thousands of suppliers to check everything yet again seems pretty pointless.


Yep and even if your phone/laptop/ipad/whatever doesn't have "conflict minerals" in them you can bet at some point somewhere along the way some workers worked a lot harder to make it for you than you did to pay for it just as surely as the executives at the company that made it are living like kings compared to you.
 
2012-08-24 06:43:12 AM  
Isnt that how we got titanium to build the SR-71? Through 3rd parties from the USSR?
 
2012-08-24 07:14:13 AM  
We pay ungodly amounts of money for diamonds despite the conditions under which they're mined (and despite the fact that they aren't even rare) so I don't think anyone cares about where their light bulbs came from.
 
2012-08-24 07:32:26 AM  
That was a strange segue into a brief paragraph on the FDI in retailing debate in India.
 
2012-08-24 07:48:20 AM  
Conflict of interest?
 
2012-08-24 08:06:40 AM  
A better explanation of the problem here.

Basically, if a retailer sells a "self-branded" product (or a product made specifically for that retailer) that contains even a trace amount of one of the "conflict minerals," they have to search through their entire supply chain - at their own cost - to prove that the mineral didn't come from one of the countries on the "bad" list. So a TV made in South Korea, with a power supply made in Malaysia, which contains capacitors made in China, which contain tantalum that was bought from a supplier in Africa? You have to send people out to trace the whole supply chain to find out if any of that tantalum came from Congo.

Yes, this can actually happen. Which is why the retailers were lobbying against it.

Another bad sign? The initial cost estimate by the SEC suggested total initial compliance costs - for the whole country - at about $70 million. Current estimate? $3+ billion initially and another $200 to $600 million annually.
 
2012-08-24 08:11:49 AM  
part of the 2010 Dodd-Frank financial reform law

dancininanson.net
 
2012-08-24 08:48:15 AM  
Yeah right like that would have any bearing on what someone is going to buy when you go to Walmart or Target. You go there for cheap goods not to care.
 
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